Two Sigma Advisers LP lowered its holdings in shares of James River Group Holdings Ltd (NASDAQ:JRVR) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,900 shares of the insurance provider’s stock after selling 3,800 shares during the quarter. Two Sigma Advisers LP owned 0.16% of James River Group worth $1,772,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in JRVR. Westwood Holdings Group Inc. purchased a new stake in James River Group in the fourth quarter worth $29,816,000. Schroder Investment Management Group lifted its stake in shares of James River Group by 5,065.3% during the 4th quarter. Schroder Investment Management Group now owns 420,350 shares of the insurance provider’s stock worth $17,322,000 after purchasing an additional 412,212 shares during the last quarter. Victory Capital Management Inc. boosted its position in James River Group by 938.8% during the first quarter. Victory Capital Management Inc. now owns 449,967 shares of the insurance provider’s stock valued at $16,307,000 after purchasing an additional 406,651 shares in the last quarter. Champlain Investment Partners LLC boosted its position in James River Group by 25.7% during the fourth quarter. Champlain Investment Partners LLC now owns 1,228,220 shares of the insurance provider’s stock valued at $50,615,000 after purchasing an additional 250,975 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in James River Group by 2,628.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 183,942 shares of the insurance provider’s stock valued at $7,580,000 after purchasing an additional 177,200 shares during the last quarter. 95.71% of the stock is currently owned by institutional investors.
In other James River Group news, CFO Sarah C. Doran acquired 2,555 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $29.40 per share, with a total value of $75,117.00. Following the acquisition, the chief financial officer now directly owns 46,270 shares of the company’s stock, valued at $1,360,338. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Janet Raye Cowell sold 1,115 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $39.38, for a total transaction of $43,908.70. Following the completion of the sale, the director now owns 5,792 shares in the company, valued at approximately $228,088.96. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
James River Group (NASDAQ:JRVR) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). The firm had revenue of $110.28 million during the quarter, compared to analysts’ expectations of $181.70 million. James River Group had a positive return on equity of 4.79% and a negative net margin of 2.27%. Equities analysts forecast that James River Group Holdings Ltd will post 1.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Friday, June 12th. James River Group’s payout ratio is 85.71%.
A number of analysts have recently weighed in on JRVR shares. ValuEngine cut shares of James River Group from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. B. Riley raised shares of James River Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $50.00 in a report on Monday, June 15th. Zacks Investment Research upgraded James River Group from a “sell” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their target price on James River Group from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, May 7th. Finally, SunTrust Banks decreased their price target on James River Group from $49.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.75.
James River Group Profile
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. Its Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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